Crude politics

More than two months after the prime minister said we needed to bite the bullet, and a couple of weeks after the finance minister talked of hard decisions, we finally have one: the petrol price increase. Even more encouraging, there is no talk of a rollback yet. Petroleum Minister Jaipal Reddy even showed some old-style political skill in asking people to wait a few days before a price reduction might be considered. Crude has been slowly moderating lately and the oil marketing companies are supposedly free to reset the petrol price on a fortnightly basis anyway.

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